Dear traders,
Bitcoin (BTC) remains formidable at $35k, consolidating in anticipation of the impending altcoin upswing.
Jake
TOP Trader
BTC has succeeded in maintaining and consolidating at $35k, making it well-prepared for a significant resistance breakout. Yet, a risk persists if the daily close dips below $33k, potentially leading to a retest of support.
Ethereum (ETH) is making a powerful thrust towards $1900 after surpassing the resistance at $1830. Now, it must maintain this potent momentum to break into and close above $1900, indicating a bullish surge and readiness for a more considerable move.
Ripple (XRP) burst through resistance and is propelling towards a fresh resistance point at $0.72, exhibiting vigorous buying momentum. It continues to maintain a bullish trend, priming for a significant upward movement.
Chainlink (LINK) has punctured a bullish pattern, soaring impressively above $11.5 and displaying bullish momentum. It remains robust and prepared for a larger upward push.
Solana (SOL) has bounced off substantial resistance and is currently trading below $41, aiming for a strong upward thrust and increased buying volume. However, a risk of being driven back into the trading channel and retesting supports still exists.
EOS made a bold move towards the $0.662 resistance but has since retreated notably. It still necessitates a significant surge in buying volume to initiate an upward push.
Litecoin (LTC) has pierced through the rigid resistance at $70 and is now poised for an even greater price push, returning to a bullish channel.
The US Dollar Index (DXY) has made a sizably aggressive retreat from resistance and is currently pushing down robustly towards 105, indicating a bearish continuation.
CRYPTO NEWS:
“BITCOIN’S RISK-REWARD IS IN A TOTALLY DIFFERENT REALM,” SAYS FIDELITY DIRECTOR
Introducing Jurrien Timmer:
- He’s the Director of Global Macro at Fidelity – one of the world’s largest asset managers.
- He simplifies complex data and trends into accessible graphs.
- He boasts over 170K followers on Twitter (respectable).
Timmer recently crafted a risk-reward chart for investment assets, which includes commodities such as gold, stocks, fiat currencies, and Bitcoin.
His finding: according to Timmer, Bitcoin’s risk-reward is “in a completely different realm.”
Jurrien’s main takeaway: Bitcoin is down 54% from its two-year high, yet it’s also up 84% from its low. Government bonds can’t compete with that risk-reward ratio, and neither can many other asset categories. (at least currently).
Adding this to my list of “Facts to Trumpet at the Thanksgiving Dinner.”
FAST NEWS
ArDrive adds a spin to decentralized data storage with their “use as you need” offering. To further the savings, Milk Road readers can get a 30% discount on their storage by using the code “MILK”.*
Coinbase announced $674M in revenue in Q3. The positive? The revenue exceeded expectations. The negative? Trading volume has declined by 21% quarter over quarter.
The SEC has subpoenaed PayPal over its PYUSD stablecoin. PayPal only introduced its stablecoin around two months past, and it’s already being acquainted with the three most fear-inducing letters in crypto: SEC.
ProShares launched the world’s first short ether-linked futures ETF. Named ‘SETH,’ it lets traders short ETH and profit if the price falls.
The total stablecoin supply has seen growth over the last 14 days. Some analysts suggest this could indicate crypto is experiencing a capital inflow.
Final words:
Altcoins are ascending and following BTC’s upward push and solid resistance breakout.
Copy trade GROW 0.1->10k$ since 18.03 we got +100.0% PROFIT!
Author
Jake
TOP Trader
